Skip to main content

About your Search

20121205
20121205
Search Results 0 to 4 of about 5
the fiscal cliff. but right now they're miles apart and digging in their heels. president obama told bloomberg tv a deal is possible, but -- >> unfortunately the speaker's proposal right now is still out of balance. >> reporter: that plan sent to the white house offers a total of $2.2 trillion in deficit reduction over the next decade. that includes $1.2 trillion in spending cuts and $800 billion in new tax revenue, but here's the key. no rate increases in the top 2% of taxpayers. that's non-negotiable for president obama. >> we're not going to be able to got a deal without it. >> reporter: the white house says the republicans' math just doesn't add up. >> it's magic beans and fairy dust. >> reporter: negotiations have reached a stalemate. >> there's nothing going on privately that is not going on publicly. >> reporter: there is no plan at this time for congressional leaders to meet with the president at the white house, and it doesn't sound like he's sending out invitations any time soon. >> i don't think that the issue right now has to do with sitting in a room. >> reporter: earlie
. >>> we begin this half hour with latest on efforts to avoid the fiscal cliff. the plan being put forward is now coming under fire from within his own party. president obama says there will be no deal unless republicans drop opposition to raising taxes on wealthyest americans. we have more now from washington, d.c.. >> was the white house and congressional republicans put forward a plan to avoid the fiscal cliff, now, they're miles apart, gaining in their heels. the president told bloomberg tv a deal is possible, but... >> this proposal now is still out of balance. >> the plan sent yesterday offers a total of 2 tth $2 trillion in deficit reduction including $1.2 trillion in spending cuts. and00 billion in new tax revenue no. rate increases in top two percent of taxpayers. that is nonnegotiatable for the president. >> we're not going to be able to get a deal without it white house says the math doesn't add up. >> it's magic beebs and fairy dust. >> with just 28 days until deadline, negotiations reach aid stalemate. >> there is nothing going on privately that is not going on publicly. >> th
up on the wealthiest americans, there will be no deal to avert going over the fiscal cliff. >> we're going to have to see the rates on the top 2% go up. and we're not going to be able to get a deal without it. >> reporter: house republicans are adamant, no tax rate increases. >> we're willing to put revenues on the table. revenues that come from closing loopholes, getting rid of special interest deductions and not raising rates. >> reporter: but what the republicans are offering sounds a lot like what the president wanted during last year's budget showdown. >> give us $1.2 trillion in additional revenues, which could be accomplished without hiking tax rates by eliminating loopholes, eliminating some deductions. >> reporter: today, however, the president says those moves will not be enough. and the latest pew poll shows a lot of public pessimism. with 49% of the public saying they do not expect a deal to be struck by the deadline. 40%, a little more optimistic. george? >> sure looks like this will go right to the deadline. jake, thanks very much. >>> george, now, we're going to get
this morning over how to avoid the fiscal cliff. currently no plans for congressional leaders to meet with the president at the white house. if no deal is reaped by year's end everyone's taxes will go up and massive cuts will take place, affecting defense and social spending. >>> when we came in this morning, just mist and drizzle. >> i hardly had to use my wipers. that is changing for a lot of folks. >> it is. right now as you look at our roof cam, nice batch of light to moderate rain falling now over the embarcadero. not so heavy we can see the ferry building and the bay bridge enough that it is causing ponding on the embarcadero this morning that's what most of us are going to run into especially east bay highway 4 connects to 680 south of vine hill coming into concord pleasanton down to walnut creek latest update light to moderate rain especially overconcord and pleasant hill highway 4 bay point, pittsburg, antioch highway 4 commute which is usually treacherous any way is going to be wet. heavy rain starting towards san rafael, larkspur, mill valley, tiburon, sausalito and belvede
insistence that key to the u.s. beginning to pay down its debt and avoid going over the fiscal cliff is raising tax rates on the wealthiest americans. >> we're going to have to see the rates on the top 2% go up, and we're not going to be able to get a deal without it. >> reporter: if republicans agree to do that, the president told bloomberg television, he'll agree to serious spending cuts. republicans have offered to raise taxes on higher incomes by $800 billion, not by raising tax rates, but by eliminating some deductions and loopholes. during last year's budget showdown, the president said he wanted to do exactly that. >> what we said was give us $1.2 trillion in additional revenues, which could be accomplished without hiking tax rates, but could simply be accomplished by eliminating loopholes, eliminating some deductions and engaging in a tax reform process that could have lowered rates generally while broadening the base. >> reporter: but now the president does not. he says it will not raise enough revenue. >> it's not me being stubborn. it's not me being partisan. it's just a m
Search Results 0 to 4 of about 5